Layoff 2024: TikTok Cuts Jobs Across Sales And Advertising Division (Photo by Olivier Bergeron on Unsplash)
TikTok, the popular video sharing platform, has joined the list of tech companies that have resorted to job cuts in 2024. TikTok has reportedly cut about 60 jobs, and it mainly affected the sales and advertising division.
According to NPR, which spotted this news first, the eliminated roles include workers in Los Angeles, New York, Austin, and some other global locations. Meanwhile, a company spokesperson told CNBC that all of those who were laid off “may apply to any open internal roles, of which there are over 120 similar roles posted currently.” In November, there were reports that ByteDance, which owns TikTok, had initiated extensive layoffs within its gaming division. Notably, ByteDance has more than 150,000 workers across the globe.
On the other hand, several governments around the world have banned TikTok in recent months. Countries have made this crucial decision against the platform, citing various reasons, including indecency, security, and privacy. Lawmakers and regulators have expressed their concern that TikTok and its parent company may put sensitive user data into the hands of the Chinese government. However, TikTok has denied such allegations.
Meanwhile, in recent weeks, several companies have announced that they are cutting jobs. Online retailer eBay announced on January 23 that they will reduce their current workforce by approximately 1,000 roles, or an estimated 9 percent of full-time employees. Riot Games, a game developer company, has recently laid off 530 employees. According to layoff tracking site Layoff.fyi, the tech industry has witnessed a total of 21,370 layoffs across 76 companies in 2024. However, Forrester research forecasts that global tech spending will hit $4.7 trillion this year.
